DOCSLIB.ORG

Role of State Treasurers Expanded During the Great Recession by Lisa S

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Role of State Treasurers Expanded During the Great Recession by Lisa S TREASURERS Role of State Treasurers Expanded During the Great Recession By Lisa S. Cleveland The nation’s state treasurers provide a wide range of financial management services to their constituents. They work to safeguard the financial interests of citizens through the professional management of college savings plans, unclaimed property programs and professional debt management efforts. Many are also actively involved in financial literacy efforts and they regularly offer their input and expertise on financial efforts at the federal level that have the potential to impact state treasuries. Public finance officials “are accustomed to the nonprofit, nonpartisan National Association of working in the trenches,” said Utah State Treasurer State Treasurers, also known as NAST. Richard Ellis, 2014 president of the National Asso - Ellis has said one of his goals for 2014 is to con - ciation of State Treasurers. tinue to raise the profile of NAST and the concerns What he means is that state treasurers are often of state treasurers in Washington, D.C. Treasurers intimately involved in the day-to-day development are actively involved in a myriad of issues at the of their state’s public finance decisions. They handle federal level, including: a wide variety of issues, dealing with everything from pension plans and debt management to the Tax Reform and Its Effect on States investment of public funds and the administration For the past 18 months, the nation’s treasurers have of college savings plans. In many states, treasurers been monitoring congressional discussions about also provide an important consumer protection tax reform and have expressed their concerns function through the administration of unclaimed about proposed federal legislation that would property programs. repeal the exemption of municipal bond interest, Treasurers act as the watchdogs of the people’s which would increase the cost of purchasing and money and, in most states, are elected by their con- holding bonds for most investors. State and local stituents. This check and balance in the executive governments rely on the issuance of tax-exempt branch of state government provides an effective bonds and other tax-advantaged bonds to finance oversight mechanism and increased transparency. the construction of public infrastructure projects. The treasurer’s office has a wide variety of responsi- State treasurers appealed to Congress through bilities and those responsibilities vary significantly comment letters and testimony during hearings from state to state. before the House Financial Services Committee. During the Great Recession, some state legis- State treasurers will continue to be engaged in latures expanded the statutory role of the state monitoring all related tax reform efforts in Wash - treasurer to include additional responsibilities. ington, D.C., due to the concern that state budgets The North Carolina legislature transferred admin- could be negatively impacted by decisions made at istration of the health plan for teachers and state the federal level. employees to the state treasurer. In Washington, the “We need to … make sure we’re at the table in state treasurer was added to the state’s Economic Washington when those discussions are going on,” and Revenue Forecast Council and was asked to Ellis said during a 2014 interview with Municipal chair the Washington State Commission on Debt. Finance Today . Another outcome of the recession was state treasurers becoming much more active on the Municipal Securities Market federal level. As they work to protect and enhance As investors, states use money market funds as an their own state’s financial positions, treasurers efficient tool for managing large volumes of short- often find themselves actively involved in finance- term liquid assets. Money market funds that seek related legislative efforts on Capitol Hill. The to maintain a stable value per share are permitted nation’s state treasurers speak as one voice through investments for many states. The Securities and The Council of State Governments 209 TREASURERS Exchange Commission recently proposed changes treasurer, Crane uses his office as a bully pulpit to to money market funds that would change the way teach students and adults about financial literacy their net asset value is calculated. topics. He created a private nonprofit organization Virginia State Treasurer Manju Ganeriwala, the that has produced a Smart Women, Smart Money 2013 president of NAST, said in a press release conference for the past 15 years. More than 19,000 issued in September 2013, “while we appreciate women have attended these conferences, learning the commission’s efforts to reform the regulation about everything from creating a budget to estate of money market funds, NAST remains concerned planning. that some of the proposed changes will have the Another early leader in financial literacy educa - unintended consequence of negatively impacting tion is West Virginia State Treasurer John Perdue. states, cities, counties and other municipal entities.” Perdue has said he believes it is a treasurer’s duty In early 2014, NAST submitted a comment let - and responsibility to take the lead in this effort ter to the U.S. Department of Treasury, the Board and he’s putting his money where his mouth is. of Governors of the Federal Reserve System In 2008, Perdue’s office partnered with the West and the Federal Deposit Insurance Corporation Virginia State Board of Education to implement expressing the treasurers’ concern that a proposal NetWorth, a comprehensive financial education to exclude municipal bonds from the high quality program designed to teach personal financial liquid asset definition could make municipal bonds management in all of the state’s public schools. In a less attractive investment. 2009, NetWorth received the Excellence in Finan - “As state treasurers concerned about the finan - cial Literacy Education Award from the Institute cial strength and integrity of states and all govern- on Financial Literacy. mental units within our states, we appreciate this In February 2014, Nevada State Treasurer Kate opportunity to comment and express our concerns Marshall testified before the Financial Literacy with the proposed rule,” said Ellis, in the comment and Education Commission in Washington, D.C. letter. Marshall discussed some of the programs under - taken in Nevada to raise the financial literacy of Pension funds Nevada residents. Pension funds have been in the news for several Many treasurers in other states also have made years as states struggle to make their funds sus - financial literacy education a priority. Utah’s Ellis tainable. While some treasurers serve as the sole serves as chairman of the Utah Council on Financial fiduciaries of their state’s pension fund, others sit and Economic Education. This organization serves on their state’s pension boards. as a centralized access point for financial literacy Ellis said during a 2014 interview with Municipal information, linking state residents to programs Finance Today that state treasurers play a role in and resources that meet their needs. In fact, Utah “helping the public really understand what’s going was one of the first states to have a requirement for on in these pension funds.” students to take financial literacy courses before graduating from high school. Financial Literacy Ellis believes state treasurers—who are often By virtue of their role as public finance officials, referred to as the “people’s bankers”— are a natural state treasurers are an obvious choice to lead fi- fit for advocating for financial literacy programs. nancial literacy efforts. They are viewed as trusted and credible sources of sound financial advice and Qualified Tuition Programs have long recognized the need for responsible fis - Related to financial literacy, many parents have cal decision-making for the management of both found that paying for their child’s education is one public funds and personal finances. of their greatest financial worries. State treasurers Much work remains to be done on this issue. A also play a role in assisting families with this finan - 2013 study by the Center for Financial Literacy at cial goal. Many states have created innovative college Champlain College in Burlington, Vt., assigned savings programs designed to meet the needs of grades to each state regarding the quality of its fi- their residents. Today, 49 states and the District of nancial literacy education. Only seven states received Columbia offer qualified tuition programs, com - an “A” ranking, while 22 garnered a “D” or “F.” monly called 529 plans. One highly ranked state in financial literacy is These plans allow individuals to save money for Idaho, home to State Treasurer Ron Crane. As their child’s education and the earnings are free 210 The Book of the States 2014 TREASURERS from federal taxation if the funds are used to pay find the rightful owner or heir. Each year, millions for qualified higher education expenses. Many of lost dollars are returned to their owners. states also offer tax deductions or credits, match - According to the National Association of Un - ing grants, scholarships or other incentives for claimed Property Administrators, state treasurers families to save in 529 plans. Most state treasurers and other agencies are safeguarding more than have a role in administering these qualified tuition $41.7 billion. Claims can be made in perpetuity, in programs, either through program operations, most cases, even by heirs who are able to prove board responsibilities, investment responsibilities ownership. or committee membership. 529 plans come in two forms—prepaid tuition Conclusion programs and college savings plans. The prepaid While the roles and responsibilities of treasurers tuition program offers families a method to are wide and varied, all are of critical importance prepay tuition based on current college rates and to the fiscal well-being of their respective states. provides a guarantee that the money will keep Sound and profitable investments and prudent debt pace with tuition inflation. The savings plans are management make it possible for state budgets to tax-advantaged investment plans designed to be balanced.
Load more

Recommended publications
  • Contact Information Concerning Unclaimed Property Escheated to States
    Contact information concerning unclaimed property escheated to states ALABAMA Unclaimed Property Division PO Box 327580 Montgomery, AL 36132-7580 334-242-9614 ALASKA Unclaimed Property Division PO Box 110420 Income & Excise Audit Div. Juneau, AK 99811-0420 907-465-4653 ARIZONA Department of Revenue 1600 W. Monroe Unclaimed Property Unit Phoenix, AZ 85007-2650 602-542-4643 ARKANSAS Auditor of State 103 W. Capitol - Suite 805 Unclaimed Property Division Little Rock, AR 72201 501-682-9174 800-252-4648 CALIFORNIA Unclaimed Property Division PO Box 942850 State Controllers Office Sacramento, CA 94250-5873 916-323-2827 COLORADO Treasury Department 1560 Broadway – Suite 630 Unclaimed Property Division Denver, CO 80202 303-894-2443 CONNECTICUT Unclaimed Property Division 55 Elm Street Office of State Treasurer Hartford, CT 06106 860-702-3050 DELAWARE Unclaimed Property Division PO Box 8931 Wilmington, DE 19899-8931 302-577-3349 DISTRICT OF Office of the Comptroller 415-12th Street NW, Room 408 COLUMBIA Unclaimed Property Unit Washington, DC 20004 202-442-8181 FLORIDA State of Florida Capital – Plaza Level – Room 9 Office of the Comptroller Tallahassee, FL 32399-0350 Unclaimed Property 850-922-1403 888-258-2253 GEORGIA Georgia Dept. of Revenue 405 Trinity – Washington Bldg. Property Tax Division Atlanta, GA 30334 Unclaimed Property Section 404-656-4244 HAWAII Dept. of Budget & Finance PO Box 150 Unclaimed Property Branch Honolulu, HI 96810-0150 808-586-1590 IDAHO Idaho State Tax Commission PO Box 36 Unclaimed Property Section Boise, ID 83722-2240 208-334-7627 ILLINOIS State of Illinois PO Box 19495 Dept. of Financial Institutions Springfield, IL 62794-9495 Unclaimed Property 217-557-3405 INDIANA Office of the Attorney General 402 W.
    [Show full text]
  • State Treasurers Urge More Drug Companies to Help Fight Opioid Epidemic
    FOR IMMEDIATE RELEASE CONTACT: September 5, 2017 Paris Ervin 217.524.5749 Greg Rivara 312.814.1901 State Treasurers Urge More Drug Companies to Help Fight Opioid Epidemic Accountability Sought at Cardinal Health and AmerisourceBergen September 5, 2017 – Drug companies Cardinal Health and AmerisourceBergen must act to address the heroin and opioid epidemic or face potential financial consequences in their stock prices, state treasurers from Illinois, Pennsylvania, West Virginia and California said today. In letters sent to both companies, the coalition of state treasurers urged the nation’s second and third largest drug distributors to take concrete steps to alleviate the heroin and opioid epidemic. Should no action be taken, each treasurer’s office would re-evaluate its financial position in the companies and strongly encourage other institutional investors to do the same. This is the second wave of actions taken by treasurers seeking greater accountability at pharmaceutical companies in the wake of the nation’s spiraling opioid crisis. In July, treasurers from West Virginia, Pennsylvania and Illinois penned a letter to drug distributor McKesson Corp. asking the company to take specific steps to address the epidemic and protect shareholder value. Days later, McKesson announced it would split the roles of Board Chair and CEO, a move applauded by the treasurers and other investors seeking more oversight and accountability at the company. “Heroin addiction is tied directly to the overuse of opioid painkillers, and the overuse of opioid painkillers is tied directly to Big Pharma,” Illinois State Treasurer Michael Frerichs said. “The industry needs to acknowledge its role in this crisis and take immediate action if we have any hope to save lives and stop this national crisis.” “The opioid epidemic has affected every community across Pennsylvania in some way, forever changing the landscape and the lives of our families, friends and neighbors,” Pennsylvania State Treasurer Joe Torsella said.
    [Show full text]
  • Facimile Cover Sheet
    VERMONT PENSION INVESTMENT COMMITTEE OCTOBER 23, 2018 DRAFT; NOT YET APPROVED BY COMMITTEE VPIC Members Present: TOM GOLONKA, CHAIR BETH PEARCE, VICE-CHAIR, Vermont State Treasurer VAUGHN ALTEMUS, Governor’s Delegate, term expiring June 30, 2018 KAREN PAUL, Governor’s Delegate, term expiring June 30, 2018 PETER AMONS, VMERS Representative, term expiring June 30, 2022 JOSEPH MACKEY, (phone) VSTRS Representative, term expiring June 30, 2019 ROBERT HOOPER, VSERS, term expiring June 30, 2020 VPIC Members Absent: VPIC Alternate Members Present: LINDA DELIDUKA, VSTRS Alternate, term expiring June 30, 2019 KIMBERLY GLEASON, VMERS Alternate, term expiring June 30, 2022 JEFF BRIGGS, VSERS Alternate, term expiring June 30, 2020 VPIC Alternate Members Absent: DAVID STARR, Governor’s Delegate Alternate, term expiring June 30, 2020 Also attending: Eric Henry, Chief Investment Officer Katie Green, Investments Manager Andy Cook, Investments Analyst Margaret Belmondo, Will Forde, Tim Bruce & Michael Manning (phone), NEPC, LLC David Borsykowsky & Jesse Moorman, Vermont Attorney General’s Office Prof. Fritz Burkhardt, Zachery Burnham, David Dalton, Victor DeBouter, Jon-Patrick Fitch, Marguerite Frizzell, Amber Ghera, Erin Landry, Trent Loehle, Hari Luitel, Evan Phippen, Jessica Priesing, Elijah Rubin, Champlain College CALL TO ORDER: The Chair called the Tuesday, October 23rd meeting to order at 8:30 am, which was held in the 4th Floor Governor’s Conference Room, 109 State Street, Montpelier, VT. ITEM 1: Agenda Approval and Announcements 1 Page 2 of 5 VPIC Regular Meeting October 23, 2018 The Chair reviewed the agenda with the Committee and asked if any members of the Committee would like to add or amend any agenda items.
    [Show full text]
  • Tuesday, February 14, 2017 Senator Mitch Mcconnell Senate Majority
    Tuesday, February 14, 2017 Senator Mitch McConnell Senate Majority Leader 317 Russell Senate Office Building Washington, DC 20510 Senator McConnell, Nearly 55 million workers across the country lack access to employer-sponsored retirement plans, and millions more fail to take full advantage of employer-supported plans. Without access to easy and affordable retirement savings options, far too many workers are on track to retire into poverty where they will depend on Social Security, state, and federal benefit programs for their most basic retirement needs. States across the country have been innovating to address this problem. We are writing to respectfully urge you to protect the rights of states and large municipalities to implement their own, unique approaches. Last week, two resolutions of disapproval (H.J. Res 66, H.J. Res 67) were introduced to repeal key Department of Labor (US DOL) rules. If passed, these resolutions would make it more difficult for states and municipalities to seek solutions to the growing retirement savings crisis. We ask that you support the role of states as policy innovators by voting “No” on H.J. Res 66 and H.J. Res 67. Thirty states and municipalities are in the process of implementing or exploring the establishment of state-facilitated, private-sector retirement programs. Eight states have passed legislation to allow individuals to save their own earnings for retirement (no employer funds are involved as these are not defined benefit plans). While most state and municipal plans will be governed by independent boards, the day-to-day investment management and recordkeeping would not be conducted by the state, but rather by private sector firms - the same financial institutions that currently provide retirement savings products.
    [Show full text]
  • Utah Treasurer David Damschen Resigns from Office to Succeed Utah Housing Corporation President and CEO Grant Whitaker
    Utah Treasurer David Damschen resigns from office to succeed Utah Housing Corporation President and CEO Grant Whitaker Grant Whitaker retires after 42 years at Utah Housing Corporation. David Damschen to assume role of Utah Housing Corporation president and CEO on May 3. SALT LAKE CITY – April 12, 2021 – Utah State Treasurer David Damschen today announced his resignation as state treasurer effective April 30. The Utah Housing Corporation (UHC) Board of Trustees has selected him to succeed Grant Whitaker as president and CEO of UHC, where he will begin his service on May 3. Whitaker is retiring after 42 years with the organization, including 12 years at its helm. UHC was created as a public corporation by state legislation in 1975 to provide affordable financing of single-family homes and apartments for people of low and moderate income. Receiving no taxpayer appropriated money, the organization provides financing and down payment assistance to homebuyers and resources to developers building or renovating affordable apartment projects. “While Utah Housing’s mission has remained unchanged, the activities surrounding that mission have evolved. We have stretched limited resources and identified new means to serve a population that continues to grow,” Whitaker said. “Immediately after I was selected as the president and CEO, America entered into the Great Recession. My team implemented programs and changes that enabled us to not only weather that storm but to build a stronger and more nimble entity that provides Utahns more diverse types of financial assistance.” Under Whitaker’s leadership, UHC has evolved to meet the challenges of a dynamic Utah housing market by providing diverse financing programs.
    [Show full text]
  • Chiang Joins State Treasurers in Urging Companies to Help Fight
    FOR IMMEDIATE RELEASE PR 17:47 Contact: Marc Lifsher Sept. 5, 2017 [email protected] 916-653-2995 Chiang Joins State Treasurers From Illinois, Pennsylvania, West Virginia in Urging Companies to Help Fight Opioid Epidemic Accountability Sought at Cardinal Health and AmerisourceBergen SACRAMENTO – State Treasurer John Chiang today joined state treasurers from Illinois, Pennsylvania and West Virginia in urging drug companies Cardinal Health and Amerisource Bergen to address the heroin and opioid epidemic or face potential financial consequences in their stock prices. Read the full news release below, along with the letters sent to both companies: September 5, 2017 – Drug companies Cardinal Health and AmerisourceBergen must act to address the heroin and opioid epidemic or face potential financial consequences in their stock prices, state treasurers from Illinois, Pennsylvania, West Virginia and California said today. In letters sent to both companies, the coalition of state treasurers urged the nation’s second and third largest drug distributors to take concrete steps to alleviate the heroin and opioid epidemic. Should no action be taken, each treasurer’s office would re-evaluate its financial position in the companies and strongly encourage other institutional investors to do the same. This is the second wave of actions taken by treasurers seeking greater accountability at pharmaceutical companies in the wake of the nation’s spiraling opioid crisis. In July, treasurers from West Virginia, Pennsylvania and Illinois penned a letter to drug distributor McKesson Corp. asking the company to take specific steps to address the epidemic and protect shareholder value. Days later, McKesson announced it would split the roles of Board Chair and CEO, a move applauded by the treasurers and other investors seeking more oversight and accountability at the company.
    [Show full text]
  • Treasury Management Training Symposium
    2015 Treasury Management Training Symposium May 12-15, 2015 | Westin Kansas City at Crown Center | Kansas City, MO Kelmar is a resource for state government, providing services and support to unclaimed property departments for all of your operational needs, including: ■ Seamless integration of every aspect of your unclaimed property program, from holder reporting to claims processing. ■ Ensuring the highest level of data security and risk management, using new generation proprietary software that is unmatched in the marketplace. ■ Strengthening internal controls, while maximizing the effectiveness of your program for Holders and Rightful Owners alike. ■ Getting more done with less by streamlining operations and leveraging technology to reunite more rightful owners with their property. Kelmar − Your Partner in Unclaimed Property Resources A MESSAGE FROM NAST’S PRESIDENT Welcome to the 2015 National Association of State Treasurers (NAST) Treasury Management Training Symposium! It is my great pleasure to serve as NAST President for 2015. Your continued support and attendance at this conference as well as October’s Annual Conference in Nashville, Tennessee are sure to make this a successful year for the organization. Special thanks go out to Kansas Treasurer Ron Estes and Missouri Treasurer Clint Zweifel and their staffs for their great help in orchestrating this week’s conference. NAST is happy to spend time this week on both sides of the border, experiencing the hospitality of Kansans and Missourians alike. So far, 2015 has seen NAST increase its presence in national media, complete its transition to a stand-alone organization, revamp its staff and provide greater focus to its communications efforts.
    [Show full text]
  • Read the 2020 Utah Statewide Voter Information Pamphlet
    GENERAL ELECTION TUESDAY, NOVEMBER 3, 2020 POLLS ARE OPEN FROM 7:00 A.M. TO 8:00 P.M. ON ELECTION DAY BALLOTS BEGIN BEING MAILED OCTOBER 13 UTAH’S OFFICIAL VOTER INFORMATION PAMPHLET Note: This electronic version of the voter information pamphlet contains general voting information for all Utah voters. To view voting information that is specific to you, visit vote.utah.gov, enter your address, and click on “Sample Ballot, Profiles, Issues.” For audio and braille versions of the voter information pamphlet, please visit blindlibrary.utah.gov. VOTE.UTAH.GOV A message from the Elections Office Utah Voter, Welcome to Utah’s 2020 General Election Voter Information Pamphlet. We designed this pamphlet to provide voters accross our state with important information that will help them navigate the upcoming election. Each of our elections is unique, and this one is no different. Voters across the state will embark on making decisions that will guide the government that they have for years to come. Throughout this pamphlet you will find information on the candidates that will represent you federally, in statewide office, in the state senate and state house, and on the state board of education. You will be able to read about the seven Constitutional Amendments that will appear on your ballot as well as judicial retention elections. In this pamphlet you will also find information aimed at helping you with the voting process like voter registration, voting methods, and communicating with your county clerk’s office. If you have questions about this information or the voting process, there is contact information for your local elections officials on page 129.
    [Show full text]
  • New Issue Ratings: Fitch “AAA;” Moody’S “Aaa;” S&P “AAA” See “MISCELLANEOUS—Bond Ratings” Herein
    PRELIMINARY OFFICIAL STATEMENT DATED MAY 12, 2020 New Issue Ratings: Fitch “AAA;” Moody’s “Aaa;” S&P “AAA” See “MISCELLANEOUS—Bond Ratings” herein. In the opinion of Gilmore & Bell, P.C., Bond Counsel, under existing law and assuming continued compliance with certain requirements of the Internal Revenue Code of 1986, as amended, the interest on the 2020B Bonds (including any original issue discount properly allocable to an owner thereof) is excludable from gross income for federal income tax purposes, and is not an item of tax preference for purposes of the federal alternative minimum tax. Bond Counsel is also of the opinion that the in- terest on the 2020B Bonds is exempt from State of Utah individual income taxes. See “TAX MATTERS” herein. ithout any notice. Undercircum- no $443,370,000 there be any sale of these securities in any juris- any in securities of these sale any be there State of Utah General Obligation Bonds, Series 2020B laws of any such jurisdiction. laws The $443,370,000* General Obligation Bonds, Series 2020B, are issuable by the State as fully–registered bonds and will be , amendment or other change w , amendment or other change initially issued in book–entry form through The Depository Trust Company, New York, New York, as securities depository for the 2020B Bonds. See “APPENDIX F—BOOK–ENTRY SYSTEM.” Principal of and interest on the 2020B Bonds (interest payable January 1 and July 1 of each year, commencing Janu- ary 1, 2021) are payable by the Utah State Treasurer, Salt Lake City, Utah, as Paying Agent, to the registered owners thereof.
    [Show full text]
  • State of Utah General Obligation Bonds, Series 2020 (PDF)
    New Issue Ratings: Fitch “AAA;” Moody’s “Aaa;” S&P “AAA” See “MISCELLANEOUS—Bond Ratings” herein. In the opinion of Gilmore & Bell, P.C., Bond Counsel, under existing law and assuming continued compliance with certain re- quirements of the Internal Revenue Code of 1986, as amended, the interest on the 2020 Bonds (including any original issue discount properly allocable to an owner thereof) is excludable from gross income for federal income tax purposes, and is not an item of tax preference for purposes of the federal alternative minimum tax. Bond Counsel is also of the opinion that the interest on the 2020 Bonds is exempt from State of Utah individual income taxes. See “TAX MATTERS” herein. $448,430,000 State of Utah General Obligation Bonds, Series 2020 The $448,430,000, General Obligation Bonds, Series 2020, are issuable by the State as fully–registered bonds and will be initially issued in book–entry form through The Depository Trust Company, New York, New York, as securities depository for the 2020 Bonds. See “APPENDIX F—BOOK–ENTRY SYSTEM.” Principal of and interest on the 2020 Bonds (interest payable January 1 and July 1 of each year, commencing July 1, 2020) are pay- able by the Utah State Treasurer, Salt Lake City, Utah, as Paying Agent, to the registered owners thereof. See “THE 2020 BONDS— Book–Entry System” herein. The 2020 Bonds are subject to optional redemption prior to maturity. See “THE 2020 BONDS—Redemption Provisions” herein. The 2020 Bonds are general obligations of the State, for which the full faith, credit and resources of the State are pledged for the payment of principal and interest, and for which payment a tax may be levied, without limitation as to rate or amount, on all property in the State subject to taxation for State purposes.
    [Show full text]
  • Download a PDF of All States
    Financial Education Fact Sheet Series: ALABAMA Financial wellness programs in the state include academic requirements, interactive games, and college savings accounts. nast.org/financialwellness/census Career Preparedness Financial Football Beginning with the 2013-2014 academic year, Through a partnership among State Treasurer the Department of Education implemented John McMillan’s office, Visa Inc., the National the Career Preparedness required course of Football League, and Regions Bank, all middle instruction. The areas of instruction include schools and high schools in the state have academic planning and career development, access to Financial Football, a football-themed financial literacy, and technology. The courses game that includes financial education specific to financial education encompass questions based on real life scenarios. managing finances and budgeting, saving and investing, banking and financial institutions, credit and debt, and risk management and insurance. Additional Educational Savings Account Opportunities Programs State Treasurer John McMillan’s office is working State Treasurer John McMillan’s office to enhance financial literacy educational currently offers several projects that opportunities beyond the required courses of support and incorporate elements of study. This is being pursued in collaboration with financial literacy, including the CollegeCounts the Department of Education, Governor’s Office, 529 college savings program and Enable state banking associations, and other key groups Alabama’s ABLE program.
    [Show full text]
  • Annual Conference September 6-10, 2014
    NAST Annual Conference September 6-10, 2014 Grand Hotel Mackinac Island, Michigan 2014 NAST Annual Conference Experience Pure Michigan during the NAST Annual Conference on beautiful Mackinac Island. Breathtaking coastal views, horse-drawn carriage rides and fascinating historic sites await you on Michigan’s crown jewel. There is no better time than this to share strategic policy ideas and to focus on the emerging investment trends that will affect the states’ treasuries. While enjoying a setting suspended in time, you will help chart the course for the future through discussions with the nation’s leading public finance executives. Discover for yourself why Mackinac Island’s celebrated Grand Hotel is one of the most unique travel destinations in the U.S. We look forward to seeing you in September! Preliminary Program Saturday, September 6, 2014 1:00-3:00 p.m. NAST Foundation Board Presiding: Hon. Ken Miller, Chair and Oklahoma State Treasurer 3:00-5:00 p.m. Long Range Planning Committee Presiding: Hon. Manju Ganeriwala, Chair and Virginia State Treasurer 5:30-6:00 p.m. Carriage transportation for treasurers and their guests departs from the hotel. 6:00-9:00 p.m. State Treasurers’ Private Dinner Sunday, September 7, 2014 Morning NAST Foundation Event (separate registration fee required) Choose one of the following events to help support the educational activities of the non-profit NAST Foundation. Space for each activity is limited. Registration must be made by August 28. • Charter Fishing • Golf Tournament • Spa Treatment • Sailing 1:30-2:30 p.m. Banking & Cash Management Committee Presiding: Hon.
    [Show full text]